The Chief Executive of the UK's Financial Conduct Authority (FCA) has called for a comprehensive overhaul of regulatory approaches in response to the era of "predictable volatility" in financial markets. The FCA chief emphasized the need for proactive regulation that creates an environment conducive to competition and growth. Key areas for reform include nurturing market liquidity, embracing technological advancements, and adopting a new mindset towards risk. The FCA is exploring adjustments to encourage wholesale trading, investing in infrastructure and new technologies, and deepening market engagement to manage systemic risks. The agency is also undertaking a review to streamline regulations and reduce operational costs for firms, with a focus on simplifying rules in the commercial insurance sector.



Other News from Today